1. Field of the Invention
The present invention generally relates to instant credit, and, more particularly, to a system and method for universal instant credit.
2. Description of the Related Art
Regulation P (Privacy of Consumer Financial Information) prohibits a financial institution from providing non-partner merchants with consumer credit card account numbers. At the same time, credit card issuers do not want to provide all credit card account information to a customer at the time of approval. Because of these two issues, instant credit products are generally tied to co-branded relationships, so that an issuer can provide a co-brand partner with credit card information to complete an immediate transaction without providing the customer with account information.